Brazilian sugar prices remain high despite the proximity of the season

The next harvest of sugarcane in the center-south of Brazil is expected to last from May to November. A drop in sugar production is expected to occur due to the low yield of sugar cane production and mainly due to the increasing prices of ethanol in the domestic market, reaching a record of R$ 2.30/ liter. This market perception is being reflected in domestic sugar prices, with a 34% increase in local currency compared to the previous year and with no clear signs of falling soon.